• Morgan Stanley may get out from under the TARP sooner rather than later now that the bank has raised another $2 billion of Japanese cash. [DB]
• AIG was spending a fortune to sponsor the British soccer team Manchester United. Now that it no longer has a fortune to spend, Aon is taking over. [DB]
• Fewer people filed new claims for jobless benefits for a third straight week last week, and worker productivity is up, too, so that's good news. [Reuters]

• Financial services companies are pushing to delay a change in accounting rules that could force banks to raise more capital than they planned. [WSJ]
• The FDIC has postponed part of President Obama's bank rescue plan since it had trouble persuading enough banks to sell off their bad assets. [DB]
• Lawmakers say the SEC needs to crack down on "naked short selling." [WSJ]
• The investment bank Cowen is buying asset manager Ramius LLC. [WSJ]
• Retail sales figures for May fell below expectations. [BN, WSJ]